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The Pan-African Economy in Brief: Saturday, May 15, 2021

Ghana:
Public debt reached 78% of GDP in 2020 (IMF):
Last year, the authorities had to resort to external borrowing in order to implement their national program to fight Covid-19. In April 2020, for example, the country obtained a $1 billion loan from the IMF to fight the pandemic.


Cameroon:
Commercial Bank-Cameroon: state to sell 98% of shares through competitive bidding:
Following various misappropriations, Commercial Bank-Cameroon was placed under provisional administration in 2009 by Cobac, the banking sector regulator in the Cemac zone. The Cameroonian government, after having recapitalized and relaunched the institution, announced its withdrawal process.


DRC:
Felix Tshisekedi blasts mining investors who "come with empty pockets and leave as billionaires":
On a visit to Katanga, Félix Tshisekedi violently attacked the international mining companies active in the DRC, which according to him "are becoming richer and richer" while the Congolese "are still languishing in misery". In the wake of this, he announced his desire to renegotiate the mining contracts.


Côte d'Ivoire:
Patrick Achi back in Abidjan:
The Prime Minister of Côte d'Ivoire was evacuated to Paris by a special flight on Monday evening. According to Le Figaro, this decision was motivated by intestinal bleeding associated with great fatigue.


Ethiopia:
Due to the inaction of the owners, the government cancels 27 mining permits:
In Ethiopia, several mining companies have just lost their licenses in the country. The Ministry of Mines announced on Friday the revocation of 27 mining permits, bringing the total number of cancelled permits to 90 since December 2020.